Economist: U.S. Treasury is Not at Risk of Default Over Debt Ceiling

The White House and Congress met to negotiate a deal to raise the debt ceiling. This comes amid concerns about higher spending, along with declining revenue for April. NTD spoke to EJ Antoni, an economist at the Heritage Foundation, who said President Biden did not reduce the deficit like he said he would, which has strangled the economy and has led to declining revenue. Therefore, Antoni claims that now is the time to reduce the size of government and allow the economy to remain in the hands of the American people leading to more investment and prosperity. He also said, “The idea that the Treasury is somehow going to default because we hit a debt ceiling” is “nonsense.”

The White House has stated that Biden’s budget will reduce the deficit by about $3 trillion over 10 years.


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